# Argentina soybean meal basis turns negative after nearly two years | S&P Global

> Argentine soybean meal export prices fell to a discount to CBOT futures for the first time in nearly two years, with FOB Up River basis at minus $2/st. Brazilian suppliers gained presence at lower prices as the real weakened, and S&P Global expects Argentine crush to rise almost 40%.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: market · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/13918-argentina-soybean-meal-basis-turns-negative-after-nearly-two-years-s-and-p
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A negative basis and rising crush increase meal export availability, pressuring soymeal prices globally and favoring Brazilian and Argentine supply in feed markets.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- USDBRL: neutral

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/062824-argentina-soybean-meal-basis-turns-negative-after-nearly-two-years

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.